World Economic Freedom 2023: Singapore’s no. 1, check where India ranks

Published by: Vivek Dubey

Singapore clinches the top spot in the World Economic Freedom 2023, dethroning Hong Kong after 53 years. Find out more about the global economic landscape:

Top Economy

Singapore tops the world’s freest economy list in 2023, dethroning Hong Kong.

Hong Kong’s Slip

Hong Kong slips to second place for the first time since 1970.

Report Basis

The 2023 report is based on 2021 data from 165 jurisdictions worldwide.

Source: Fraser Institute

Economic Freedom

The report measures individuals’ ability to make their own economic decisions.

Singapore’s Score

Singapore leads with an economic freedom score of 8.56.

Hong Kong’s Score

Hong Kong follows closely with a score of 8.55.

Switzerland’s Rank

Switzerland ranks third with a score of 8.47.

New Zealand’s Position

New Zealand secures the fourth spot with a score of 8.43.

US Ranking

The United States ranks fifth with a score of 8.14.

Ireland’s Score

Ireland stands sixth with an economic freedom score of 8.11.

Denmark’s Rank

Denmark ranks seventh with a score of 8.1.

Australia & UK

Both nations share the same score of 8.0 and stand at 8th and 9th place.

Canada’s Position

Canada secures the tenth position with a score of 7.98.

India’s Rank

India ranks much lower at 87th position with a score of 6.62.

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